Union Pacific Railroad was the leading U.S. class I freight railroad company in 2023, generating just under 23.87 billion U.S. dollars in operating revenue.
Union Pacific Railroad leads the market
Union Pacific focuses on hauling freight like coal, industrial, chemical or agricultural products. In 2022, the company generated some 23.16 billion U.S. dollars in freight revenue and employed more than 30,700 people in that year. Its main competitor, BNSF, was second on the list in terms of operating revenue in that year, generating around 23.87 billion U.S. dollars in operating revenue from transporting freight commodities such as coal, industrial or agricultural products.
U.S. rail industry
U.S. railroads as well as their competitors in Canada are among the leading railway companies in the world. The United States has one of the longest railroad networks worldwide. In 2016, U.S. railroads transported some 17.7 billion tons of freight, a volume which was greatly impacted by the economic slowdown and dip in demand in the sector due to the Covid-19 pandemic in 2020. Rail freight traffic rapidly dipped by over 16 percent between January and April 2020, before slowly rebounding through 2021. Despite this setback, demand is expected to grow; by 2040, more than 24 billion tons of freight will be hauled via U.S. railroads.
Leading North American railroad companies in 2023, based on operating revenue
(in billion U.S. dollars)
Values have been rounded. The figures for non-U.S. railroads have been converted from Canadian dollars to U.S. dollars at a rate of 1 CAD = 0.7559 U.S. dollars (correct as of December 31, 2023).
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Statista. (May 24, 2024). Leading North American railroad companies in 2023, based on operating revenue (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 15, 2024, from https://www.statista.com/statistics/271613/leading-north-american-railroad-companies-based-on-revenue/
Statista. "Leading North American railroad companies in 2023, based on operating revenue (in billion U.S. dollars)." Chart. May 24, 2024. Statista. Accessed October 15, 2024. https://www.statista.com/statistics/271613/leading-north-american-railroad-companies-based-on-revenue/
Statista. (2024). Leading North American railroad companies in 2023, based on operating revenue (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 15, 2024. https://www.statista.com/statistics/271613/leading-north-american-railroad-companies-based-on-revenue/
Statista. "Leading North American Railroad Companies in 2023, Based on Operating Revenue (in Billion U.S. Dollars)." Statista, Statista Inc., 24 May 2024, https://www.statista.com/statistics/271613/leading-north-american-railroad-companies-based-on-revenue/
Statista, Leading North American railroad companies in 2023, based on operating revenue (in billion U.S. dollars) Statista, https://www.statista.com/statistics/271613/leading-north-american-railroad-companies-based-on-revenue/ (last visited October 15, 2024)
Leading North American railroad companies in 2023, based on operating revenue (in billion U.S. dollars) [Graph], Statista, May 24, 2024. [Online]. Available: https://www.statista.com/statistics/271613/leading-north-american-railroad-companies-based-on-revenue/